The Commonwealth Bank (CBA) is set to become Australia’s first lender to offer crypto products directly through its mobile application.
- CBA has teamed up with Gemini crypto exchange and custodian, and blockchain analysis firm Chainalysis to be able to design an exchange and custody services to be rolled out through the application.
- The offering is initially slated to be made available in the coming weeks, with more features expected to be rolled out next year. Assets included are Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
- The CBA said its research indicated that a significant proportion of its customers are clamoring for access to crypto assets as an investment class, and already have holdings in several exchanges.
CBA Chief Executive Officer Matt Comyn said the growing demand for digital tokens creates both challenges and opportunities for the financial services sector.
CBA closed up 1.17%, BTC is down 2.34%, ETH up 0.52%, BCH up 0.13%, and LTC down 0.44%.